Is 30 lakh FD good? is it risk free
Hi,
Yes, a ₹30 lakh Fixed Deposit (FD) can be a good option if you’re looking for a safe and steady way to grow your money. It gives you guaranteed returns, unlike stocks or mutual funds, and is protected up to ₹5 lakhs under insurance (per bank). If you keep each FD under ₹5 lakh per bank, it’s insured by DICGC, which means even if the bank shuts down, you’re protected up to ₹5 lakh. You can also choose the FD duration based on when you’ll need the money, and even earn monthly income if you opt for interest payouts. It’s ideal if you want low risk and don’t need quick access to all the money.